Surgical Equipment Market Analysis Published by Market Research Future predicts that The Global Surgical Equipment Market is expected to grow at a CAGR of 6.2% during the forecast period. Surgical Equipment Industry by Product Type (Surgical Sutures & Staplers, Handheld Instruments, Electrosurgical Devices), by Application (Neurosurgery, Wound Closure), by End-User (Hospitals, Ambulatory Surgical Centers) and Global Forecast Till 2023
Key Players
Some of the key players in this market are Smith & Nephew (UK), B. Braun Melsungen AG (Germany), Ethicon US, LLC. (US), Erbe Elektromedizin GmbH (Germany), COVIDIEN (US), CONMED Corporation (US), MEDICON (US), Integra LifeSciences Corporation (US), Synergetics USA, Inc. (US), Stryker Corporation (US), KARL STORZ & Co. (US), and KLS Martin (Germany).
Surgical equipment are used for both minor and major surgical procedures in hospitals and surgical centers and have a wide range of application in neurosurgery, ophthalmic surgery, wound closure, urology, cardiovascular surgeries, orthopedic surgery, and others. Electrosurgical devices, surgical sutures and staples, handheld instruments, electrosurgical generators, and monitoring devices are the various equipment that are used in surgeries.
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The global surgical equipment market is driven by the increasing prevalence of chronic diseases such as cardiovascular diseases, obesity, skin diseases, increasing number of surgeries in ambulatory surgical centers and hospitals, and rising geriatric population. Additionally, the growth of the medical device market, increasing number of surgical centers, and government initiatives have a synergistic effect on the market. However, the growth of the market is restrained by various factors such as high cost of surgical devices and strict regulatory policies for various regulatory authorities.
Segmentation
The global surgical equipment market is divided into product type, application, and end-user.
On the basis of product type, the market is segmented into surgical sutures and staplers, handheld instruments, electrosurgical devices, electrosurgical generators, monitoring devices, and others. Surgical sutures and staplers are further segmented into absorbable and non-absorbable sutures. Handheld instruments are sub-segmented into forceps, sutures, visual scope, and others. Electrosurgical devices are further categorized into electrosurgical instruments such as HET bipolar system, electrosurgical pencils, smoke evacuation system, electrosurgical generators, and others.
On the basis of application, the market is segmented into neurosurgery, wound closure, urology, cardiovascular surgeries, orthopedic surgery, and others.
On the basis of end-user, the market is segmented into hospitals, ambulatory surgical centers, and others.
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